5 Downsizing Tips for Simpler Lifestyles

La-Z-Boy Southeast | November 2, 2017

Are you looking for downsizing tips that will simplify your life and save money at the same time?

At La-Z-Boy Home Furnishings & Décor, we’ve noticed an increase in people deciding to move into a smaller living space.

In this article, we will highlight five downsizing tips that will make the process therapeutic.

1) Evaluate the Important Things In Your Life

Take a look at the things in your home and ask yourself, “Does this have a purpose?”

If it’s something you use often, then this item is important and needs to be brought to your downsized home.

If it’s something you haven’t used in a long time or doesn’t have a purpose in your life, then it’s time to let it go. You can donate these items to Goodwill or sell them on eBay or Craigslist.

Keep in mind, most of the things we keep without using are tributes to unmet goals. Dusty treadmills are a common sight in most homes. By removing this type of unused clutter from your life, you can focus on your new goals and move on.

It’s okay to put the stuff you have a hard time giving away in storage. But if you don’t need or use these items in three to six months, donate or sell them to people who will use them.

2) Measure Your Old Furniture

Pull out the measuring tape and start writing down the sizes of your furniture, bed sets, television, etc. Ask yourself these questions while you measure:

Will this fit comfortably in my downsized home?
Will it make it through my new door?
Can this item be sold or donated?

You may find that your furniture needs to be downsized too.

At La-Z-Boy Home Furnishings & Décor, our free design service gives you access to a degreed interior designer at no extra cost.

Working with our free design service will help you plan and visualize your furniture in your downsized living space.

3) Crunch the Numbers

Downsizing your home is an opportunity to save money and lead a simpler lifestyle.

Homeowners and renters are able to pocket the difference from the money spent on the larger home. And they often save money on utilities, taxes, insurance, and upkeep.

You can use this downsizing calculator to get a quick idea of how much money you can save.

4) Put Your Monthly Savings to Good Use

Dave Ramsey is a financial guru and advocate of downsizing. In this article highlighting the benefits of downsizing, Dave lists three options for achieving your financial goals with your newfound monthly savings:

Attack Your Debt Snowball: Reduce your current debt by throwing your new monthly savings at the loan to trim your pay-off time dramatically.
Boost Your Retirement Fund: Build wealth for the future by adding additional money to your retirement fund. This extra cash can turn into a large nest egg over time.
Pay Off Your Mortgage: Trade in your mortgage for a paid-off home by using the proceeds from selling your current home to pay cash for a smaller one.

Each of these options provide a smart way to put your monthly savings from downsizing to good use.

5) Focus on Quality & Multipurpose Rooms

After you’ve settled into your downsized home, continue reviewing your home and asking yourself “Does this have a purpose?”

You can get the most out of your floor space by setting each room up for multiple purposes. Some rooms may have to pull double duty as an office, extra bedroom, or gym because space is limited.

Always pay attention to the things you bring into your life and home. And go for quality over quantity.

For example, it’s better to choose a multipurpose, high-quality piece of furniture instead of trying to fit too many pieces into a single room.

This mentality will ensure you keep your new home comfortable and purposeful.

Check Out These Additional Resources

The idea of moving your life into a smaller home can be intimidating and overwhelming. However, you don’t have to feel alone during the process.

At La-Z-Boy Home Furnishings & Décor, our interior designers are available to help you furnish your downsized home and guide you along the journey.

Here are some additional online resources you may like to check out:

We’d be happy to tell you more about downsizing at any of our locations in NC, SC, and GA.